New York City's 2017 Qualified Allocation Plan requires extended use of projects if utilizing the 4% tax credits.

The New York City 2017 QAP asks Owners of 4% projects to enter into a regulatory agreement with HPD for extended low-income use of the project (i.e. a 30-year compliance period) that is in conformance with the requirements of Section 42. Therefore, the Owner would agree to maintain the Extended Use period by including in the regulatory agreement a waiver of the right to seek a qualified contract to purchase the project at the end of the 15-year compliance period.

This Working Paper looks at the combination of incentives state agencies are using in their LIHTC programs for affordable housing in neighborhoods with economic growth, quality schools, low crime, and access to...